James P. Gorman Quotes

I think a lot of people have predicted the demise of cash, and they've frequently been wrong. But there's no question that the smartphone is leading to the digitization of money. You really now have all the power of a bank branch in the palm of your hand.

Physical money, whether it's checks or cash or credit card, are digitizing in front of us.

We are quite a way off before people travel around the world without cash in their pockets. The growth of plastic and electronic transactions have tended to impact traveller's cheques rather than cash.

Money is catching up to the technological trends transforming all aspects of society and business; entertainment, insurance, health-care, gaming, leisure, retail - all commercial and social verticals are going digital - including money itself.

Social messaging has become the defining app of the smartphone era. Social payments has been a natural extension of this phenomenon - it's going to be the locus of most communications activity.

When you think about how everything else works in the digital age and the way that money does, money really falls short.

I don't carry cash often. I'm all about the plastic.

Cash is going to be killed. It will be nostalgia.

Digital payments have already made it easier to move and manage money. While there's more work to do, the potential is real and understood.

We live in a digital world where all is available at the touch of a screen. Money has been simplified, changed subtly over time from tangible bills to numbers in cyberspace. Cash is no longer in a cloth bag; it's numbers on a screen. Numbers that can be manipulated and modified. If you run out of numbers, you can just buy some more, right?

In those days, if you wanted a new car or a holiday, you'd phone up the office and they'd send you some cash. You never had a bank account. I don't know anyone from the music business in the Seventies that it didn't happen to.

For the first time in 6,000 years of human history, we can have peer-to-peer exchange where trust is not a problem anymore. And it's through the technology that underlies bitcoin. It's called the block chain.

Earlier, physical currency used to dominate. Now, mobile currency or digital currency is dominating. For digital currency, fintech is very crucial.

In a cashless society, the cash has been converted into numbers, into signals, into electronic currents. In short: Information replaces cash.

The digitisation of money, the rapid expansion of internet access and, of course, the adoption of mobile phones have created the perfect conditions to make it easier, secure, and affordable to save, spend, give, and borrow.

I think what we really need to think about is how do we reimagine the management and movement of money in an era where everyone will have a smartphone.

The changing nature of money is only one facet of the financial services revolution.

I think Twitter is the future of communications and Square will be the payment network.

Elon Musk with PayPal revolutionized banking.

Twitter was around communication and visualizing what was happening in the world in real-time. Square was allowing everyone to accept the form of payment people have in their pocket today, which is a credit card.

I look around my neighborhood, and I see people hailing a cab or ordering their food and then paying for it all with their phone. I've read about that stuff for a really long time, and now it's starting to become commonplace.

Technology has come a long way since PayPal.

Bitcoin woke us all up to a new way to pay, and culturally, I think a much larger percentage of us have become accustomed to the idea that money no longer comes with the friction it once had.

I was fascinated by the fact that in Osaka, we saw people using their cell phones to pay for small goods.

By lowering the barrier to create new digital currency applications, we'll see an explosion in the number of ideas tried. We'll invest in, partner with, or build a number of new applications in this space, including replacements for many of the services people use in finance 1.0.